
Lexington requests extension for seventh fund
Secondaries firm Lexington Partners has requested an extension from its LPs for its 2009-vintage $3.3bn fund Lexington Capital Partners VII, Unquote has learned.
The firm has asked for a one-year extension to complete the wind down of the fund's portfolio, according to a publicly available document.
Lexington closed the fund on $3.3bn in July 2011 and it was 86% deployed by December 2017, according to Unquote Data.
An LP in the fund reported a 14.93% net IRR for the vehicle in September 2018.
Lexington is currently marketing its ninth fund, launched in February 2018 with a $12bn target.
The GP recently acquired stakes in two UK-focused private equity funds (Scottish Equity Partners' 2006-vintage SEP III, and Gresham Private Equity's 2006-vintage Gresham IV) from the West Midlands Pension Fund, according to public filings.
Lexington declined to comment.
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